Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

24364 Corte Sanino Murrieta, CA 92562

3 Beds 2 Baths 2,270 sqft Built 1998

$505,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $222.47
  • 5 Days on Market
  • MLS # : SW21018230
  • Updated Date : 01/29/2021 at 13:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,270 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

This Charming, One of a Kind, One Story 3 Bed, 2 Bath, 3 Car Garage home is located at the end of this beautiful Cul-De-Sac. As you enter this home, you will instantly notice the vaulted ceilings, a warm fireplace for those cold winter nights and newly installed carpet. Bonus room which can be used as an office or guest bedroom. Nice Open Kitchen with granite counters and Kitchen Island. Small Desk Area near Kitchen. Individual Laundry Room Inside. Front and Backyard have a perfectly manicured lawn. Backyard is really peaceful and has a nice patio area. Minutes form Golf Putting Range, Hiking Trails, Schools, Restaurants, Shops and Downtown Murrieta.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 92562

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 92562

ZipNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Murrieta Elementary School Primary Regular 830 29 7
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Murrieta Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 29
7
GreatSchools Rating

Thompson Middle School

  • Education Level: Middle
  • # of students: 1,665
  • # of teachers: 56
6
GreatSchools Rating

Murrieta Valley High School

  • Education Level: High
  • # of students: 2,440
  • # of teachers: 93
8
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,754
Property Tax -$520
Property Insurance -$82
Property Management Fees -$142
CASH FLOW
-$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$505,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,754

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$23,567

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,400

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,520

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,4004$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 24364 Corte Sanino Murrieta, CA 3
    • 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,270 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 41180 Marseille Court Murrieta, CA 1
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.14
    •  
  • 24556 Calle San Vincente Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 23918 Cadenza Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.13
    •  
  • 24353 Corte Sanino Murrieta, CA 5
    • 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,515 Sqft ∙ Built 1998
    property image
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.07
    •  
PROPERTY LISTING DETAILS
Norine Moore
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21018230
Last Updated: 01/29/2021
BESbswy